Introduction Contravention is a breach or non-compliance of the provisions of Foreign Exchange Management Act (“Act”), 1999, and the rules, regulations, notifications, orders or circulars or directions made thereunder. The Reserve Bank of India (“RBI”) has been empowered by the
Gift is a transfer of movable or immovable property from one person to another without consideration. Shares of an Indian company or of a company incorporated outside India can be gifted to another person (relative or otherwise) by following certain
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